Wedge Capital Management L L P NC Boosts Stock Position in Thermon Group Holdings, Inc. (NYSE:THR)

Wedge Capital Management L L P NC increased its stake in shares of Thermon Group Holdings, Inc. (NYSE:THR) by 6.9% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 46,643 shares of the technology company’s stock after purchasing an additional 3,009 shares during the quarter. Wedge Capital Management L L P NC owned approximately 0.14% of Thermon Group worth $1,392,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Algert Global LLC increased its position in Thermon Group by 156.4% during the 2nd quarter. Algert Global LLC now owns 30,483 shares of the technology company’s stock worth $938,000 after purchasing an additional 18,593 shares in the last quarter. Meros Investment Management LP increased its position in Thermon Group by 1.6% during the 2nd quarter. Meros Investment Management LP now owns 209,800 shares of the technology company’s stock worth $6,453,000 after purchasing an additional 3,400 shares in the last quarter. The Manufacturers Life Insurance Company increased its position in Thermon Group by 4.2% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 17,000 shares of the technology company’s stock worth $523,000 after purchasing an additional 682 shares in the last quarter. Dark Forest Capital Management LP grew its holdings in Thermon Group by 71.3% in the 2nd quarter. Dark Forest Capital Management LP now owns 12,936 shares of the technology company’s stock valued at $398,000 after buying an additional 5,384 shares during the period. Finally, Canada Pension Plan Investment Board purchased a new stake in Thermon Group in the 2nd quarter valued at about $40,000. Hedge funds and other institutional investors own 99.76% of the company’s stock.

Wall Street Analyst Weigh In

Separately, StockNews.com upgraded Thermon Group from a “hold” rating to a “buy” rating in a report on Saturday, September 14th.

Thermon Group Stock Up 1.1 %

Shares of NYSE:THR opened at $28.94 on Thursday. The company has a debt-to-equity ratio of 0.31, a quick ratio of 1.73 and a current ratio of 2.61. Thermon Group Holdings, Inc. has a 1 year low of $23.76 and a 1 year high of $35.93. The stock has a market capitalization of $978.17 million, a P/E ratio of 20.24 and a beta of 1.05. The stock has a 50-day simple moving average of $29.25 and a 200-day simple moving average of $30.90.

Thermon Group (NYSE:THR) last released its quarterly earnings results on Wednesday, August 7th. The technology company reported $0.38 EPS for the quarter, topping the consensus estimate of $0.31 by $0.07. The firm had revenue of $115.10 million for the quarter, compared to analyst estimates of $115.99 million. Thermon Group had a return on equity of 13.26% and a net margin of 9.78%. Thermon Group’s revenue for the quarter was up 7.7% on a year-over-year basis. During the same period in the previous year, the company posted $0.40 EPS. Equities analysts forecast that Thermon Group Holdings, Inc. will post 1.98 earnings per share for the current year.

About Thermon Group

Thermon Group Holdings, Inc provides engineered industrial process heating solutions for process industries in the United States and Latin America, Canada, Europe, the Middle East, Africa, and the Asia-Pacific. It offers heat tracing products, such as electric heat tracing cables, steam heating solutions, controls, monitoring and software, instrumentation, project services, industrial heating and filtration solutions, temporary electrical power distribution and lighting, and other products and services.